Insert Andrews Pitchfork, Cycle Lines, Text and Text Label on Trading Chart

The last 4 options on the MT4 trading platform insert menu are:

1. Andrews Pitchfork
2. Cycle Lines
3. Text
4. Text Label

These are instanced below:

Insert Menu Options in MT4 Platform

Andrews Pitchfork

The Andrews Pitchfork is drawn between three points first point is the middle point of energies price, the next is the upper point of energies price & the third is lower point of energies price. This draws three parallel lines that form a channel. Price should energies trend within this channel, if energies price moves outside of this channel like in energies example illustrated and explained below the trade should be closed.

Andrews Pitchfork on MT4 Platform

Cycle Lines

Cycle lines are vertical lines drawn at an equal distance representing market cycles. To draw these lines a trader selects one continuous energies trend and draws a line between the high and low of the energies trend and then this MT4 indicator automatically plots the cycle line, these lines represent market cycles.

Cycle Lines MT4 Energies Trading Indicator

Text & Text Label

As a trader you may want to mark a price level on your energies chart. To do this you can use either the text or text labels, Choose any of this button, select where to place these labels after which a popup appears prompting you to input the text of the label. To edit the text label double-click on it & then this popup will appear again and edits can be done on this popup window.

Text and Text Labels in MT4 Platform

From the example above buy is a text & the sell is a text label, both aren't much different only that the text will move with the chart, while the text label is fixed at one point and won't move with the chart.